The front page of AI-driven biology
Thursday, October 15, 2026Thu, Oct 15
Updated 6:32 PM PT
Regulatory T cell specialist TRex Bio and blood pressure drugmaker Retension Pharmaceuticals filed initial public offering paperwork with the Securities and Exchange Commission, joined by existing backer Eli Lilly indicating interest in buying more shares in TRex.
Electra completed a $350 million initial public offering on Nasdaq to fund clinical development of its antibody pipeline, joining a wave of eleven biotech listings this year that have each raised at least $300 million.
Goa Therapeutics launched with $15.5 million in funding from individual industry leaders and filed for an initial public offering to raise up to $75 million.
Cardiometabolic biotech Marea Therapeutics will acquire Nasdaq-listed Lisata Therapeutics in an all-stock reverse merger alongside a $225 million private placement from RA Capital Management, Forbion, Third Rock Ventures, and Sofinnova Investments.
North Immunology will list on Nasdaq under ticker NRTX by merging with Aethlon Medical alongside a $180 million private placement backed by Bain Capital Life Sciences, Janus Henderson Investors, and Deep Track Capital.
OrbiMed and Qiming Venture Partners USA co-led the $25 million round, joined by Innovation Endeavors, Benchstrength, Fusion Fund, and Lumira Ventures.
Forbion led the Series C financing alongside TPG Life Sciences Innovations and Sectoral Asset Management to fund a 120-patient trial of linsitinib.
Chinese internet company ByteDance completed a $290 million funding round for its AI-driven drug discovery division following its spin-out as an independent company.
Obvious Ventures led a $20 million Series A funding round for Mithrl, with backing from Headline, AGI House, and biopharma executives, to advance its biomedical world model and AI orchestration platform.
The OpenAI Foundation has launched a $125 million initiative called Public Data for Health to fund open, standardized scientific and biomedical datasets for machine-learning research.
Eli Lilly entered a multi-program research partnership with Toronto-based QurCan Therapeutics, offering an upfront payment, equity investment, and up to $237 million in milestones per program to deliver genetic medicines across the blood-brain barrier.
RegCell closed a $44 million Series A round led by Playground Global alongside non-dilutive grants from Japan's Agency for Medical Research and Development, bringing total financing to $66 million.
Electra Therapeutics aims to raise net proceeds of $296.6 million, rising up to $341.9 million if underwriters exercise their option, by offering 21.7 million shares priced between $14 and $16 each, matching the reported $342 million goal.
A combination of Amgen's T-cell engager Imdelltra (tarlatamab) and AstraZeneca's checkpoint inhibitor Imfinzi prolonged overall survival compared to Imfinzi alone in untreated, extensive-stage small-cell lung cancer.